The options are:

- `ed25519`: Small key size and compact signatures. 

- `secp256k1`: Provides security through generating and verifying keys using ECDSA. 

- `secp256r1`: Uses randomly generated curves to generate keys.


The client will return your new address and 12-word recovery phrase:

```
Generated new key pair for address with scheme "ed25519" [0xb9c83a8b40d3263c9ba40d551514fbac1f8c12e98a4005a0dac072d3549c2442]
Secret Recovery Phrase : [cap wheat many line human lazy few solid bored proud speed grocery]
```